Enron Mail

From:money_mail@mail.cnbc.com
To:shendri@ect.enron.com
Subject:Techs Surge
Cc:
Bcc:
Date:Tue, 5 Jun 2001 15:15:11 -0700 (PDT)

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Good evening!
Here is your Money Mail for Tuesday, June 5.

BUZZ AT THE BELL
Optimistic profit reports powered technology shares
Tuesday, carrying a broad swath of the stock market higher.
Upbeat news from chip maker Xilinx, software company
Comverse Technology and even telecom-equipment pariah
Lucent inspired the kind of Nasdaq euphoria rarely seen in
recent months.

Near day's end, the Nasdaq Composite stood 3.6 percent
higher, up 78 to 2,233. Blue chips rose less markedly but
still put on a good show. The Dow Jones industrial average
climbed 114 to 11,176, largely on the strength of its
technology components (Microsoft and IBM both jumped more
than 2.5 percent). More broadly, the Standard & Poor's 500
rose 16 to 1,284.

Chip stocks and computer networkers stole the show.

Xilinx climbed 9.7 percent after the company affirmed its
earlier profit forecasts and said order cancellations were
slowing. Other makers of chips and related equipment also
rose strongly. Intel climbed 4.3 percent, Advanced Micro
Devices rose 4.7 percent and KLA Tencor advanced 7.2
percent. Many of these stocks were rebounding from big
declines Monday sparked by a worrisome April chip-sales
report.

Lucent shares surged 6 percent to 8.48 after the company
forecast improving quarterly sales figures. More than 20
million shares of Lucent changed hands on the New York
Stock Exchange, making it the day's most active NYSE-listed
stock. Other makers of telecom components and network
equipment fared similarly. Cisco rose 9.2 percent,
Cabletron Systems climbed 8.1 percent and Juniper Networks
rose 4.8 percent.

Among the most widely held names, only a handul of stocks
lost ground. Pfizer, Walt Disney and CNBC parent General
Electric tallied modest declines, while most other widely
recognized companies enjoyed gains.

More broadly, utilities, construction companies,
photo-imaging stocks and tobacco were among a small group
of S&P sectors posting losses on the day.

Scott Gerlach
Managing Editor, CNBC.com


MAJOR INDEXES AND VOLUMES
* Dow Jones Industrials: 11,175.84, up 114.32 or 1.03%
* Dow Jones Transports: 2,917.42, up 39.18 or 1.36%
* Dow Jones Utilities: 381.71, down 8.54 or 2.19%
* S&P 500: 1,283.56, up 16.45 or 1.30%
* NASDAQ Composite Index: 2,233.65, up 77.72 or 3.60%
* Russell 2000: 516.48, up 9.16 or 1.81%
* FTSE: 5,482.30, down 378.70 or 6.46%
* NIKKEI: 13,182.00, down 130.35 or 0.98%
* Ten-Year Treasury Note Yield: 5.30%, down 0.03 or 0.56%

* NYSE volume (preliminary): 1.11 billion shares
* Nasdaq volume (preliminary): 1.83 billion shares

* To see our complete U.S. index list,
http://www.cnbc.com/news/markets/world.html?ReferrerID=MM


SCOUTING REPORT: WEDNESDAY
An empty calendar greets investors on Wednesday. No crucial
economic data or earnings reports will be released. Looking
for direction? Flip a coin.


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